Since acquiring XTO for $36 billion in 2010, Exxon Mobil has gotten better at drilling unconventional shale plays. But it needed Pioneer’s high-quality acreage to keep running in the Permian Basin, CEO Darren Woods said at CERAWeek by S&P Global.
Silver Hill Energy Partners LP is getting into the Bakken in North Dakota through the acquisition of Liberty Resources II.
The cost of supply for North American shale producers is expected to continue rising, according to a recent analysis by Enverus Intelligence Research.
Lab tests show that 90% of oil is still left in rock that’s drilled.
Berlin Resources LLC has retained EnergyNet for the sale of an Anadarko Basin opportunity in the Donita 35/2 AP #1H in Roger Mills County, Oklahoma.
Wayfinder Resources Operating and KSE Minerals has retained EnergyNet for the sale of a Mississippian/ Woodford opportunity in Canadian County, Oklahoma.
As CEO, David Ward will lead and build out PropFlow’s operations of eliminating debris from proppant at well sites in the Permian Basin and other plays.
Bayou Bend is a carbon capture and sequestration joint venture between Chevron, TotalEnergies and Equinor located along the Gulf Coast in Texas.
LM Energy is building new compressor stations and adding 70 miles of pipeline in the Delaware Basin.
As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
Chord Energy expects to close its Enerplus acquisition by the end of May but, for now, is focused on three-mile and, eventually, four-mile laterals in the Williston Basin.
Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.
Oil per lateral foot in the Utica is as good as top Permian wells, EOG Resources told analysts May 3 as the company is taking the play to three-mile laterals and longer.